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Isreal will offer a 3rd dose of vaccine (to older citizens)

  
Analysis, COVID-19

Israel’s Prime Minister with the announcement – a coronavirus booster to people over 60 who have already been vaccinated.

  • a third dose of the Pfizer-BioNtech vaccine
Remarks from the PM:
  • “Reality proves the vaccines are safe. Reality also proves the vaccines protect from severe morbidity and death. And like the flu vaccine that needs to be renewed from time to time, it is the same in this case.”
I’m not sure what all the fuss is about re getting booster shots. Like I said yesterday, I take around 12 shots of coffee each morning. No biggie.

US major indices close higher

  
Analysis, US Market

Indices close off the highs for the day

The major indices closed higher on the day.

  •  The S&P and Dow industrial average traded to new all-time intraday highs.
  • The S&P close just below record close levels
  • The NASDAQ close higher for the 7th day in 8 trading days.
  • The Dow and S&P snapped a two day losing streak.
Tomorrow is the last day of the trading month, and all three major indices are on track for monthly gains.
A look at the final numbers shows:
  • S&P close up 18.37 points or 0.42% of 4419.01
  • Dow closed up 153.21 points or 0.44% at 35,084.14
  • NASDAQ closed up 15.68 points or 0.11% at 14,007 78.26
  • Russell 2000 up 15.09 points or 0.68% at 2240.05

Eurozone July final consumer confidence -4.4 vs -4.4 prelim

  
Analysis, Economy

Latest data released by Eurostat – 29 July 2021

  • Economic confidence 119.0 vs 118.5 expected
  • Prior 117.9
  • Services confidence 19.3 vs 19.9 expected
  • Prior 17.9
  • Industrial confidence 14.6 vs 13.0 expected
  • Prior 12.7

Euro area economic confidence reaches an all-time high as the upbeat mood is helped by the summer optimism. That said, the increase is a shallow one which could suggest that the indicator is nearing its peak for the time being.

Industrial confidence also increased for an eighth consecutive month, recording its own all-time high, while services confidence is seen picking up for a sixth straight month as it touches its highest level since August 2007.

No taper talk from FOMC or Powell (as expected) – Jackson Hole the next opportunity

  
  Analysis
What’s not a ways off is this year’s Federal Reserve Bank of Kansas City s Economic Policy Symposium in Jackson Hole, Wyoming. The symposium has been a venue in the past for announcing policy changes, and it gets another opportunity this year.
  • Dates are August 26 to 28.
If not at The Hole, the next opportunity is September. The pic is the schedule for Federal Open Market Committee meetings remaining this year:
For a rundown on what was said, and not said, at the Federal Open Market Committee and Chair Powell's press conference:

Facebook expectations disappoint after the close. Earnings and revenues beat expectations.

  
Analysis, US Market

Earnings-per-share $3.61 versus $3.04. Revenues 29.08 billion versus 27.87 billion, but other data disappoints

  • earnings-per-share $3.61 versus $3.04
  • revenues $29.08 billion versus $27.87 billion
  • daily users 1.91 billion versus 1.95 billion estimate
  • monthly active users 2.9 billion versus expected 2.91 billion
In the 3 and 4th quarters expects advertising revenue growth will be driven by year on year advertising price increases during the rest of 2021.
The stock is trading down -4.65% in after-hours trading or $-17.28 to $356.11

Dow down for the second straight day. Nasdaq rises.

  
Analysis, US Market

S&P up modestly. NASDAQ higher

Highlights for the day
  • NASDAQ up for the sixth time in seven days
  • S&P index falls for the second consecutive day
  • Russell index jumps 1.51%
  • new highs at 76. New lows 80
  • Dow down for the second consecutive day
  • NASDAQ rebounds after its worst day since May
  • healthcare sector on pace for a record close
The major averages are mixed after the FOMC statement, and a largely unchanged taper expectations.
The final numbers are showing:
  • Dow industrial average felt -128 points or -0.37% at 34,930.27
  • S&P index fell -0.82 or -0.02% at 4400.65 point
  • NASDAQ rose 102 points or 0.70% at 14762.59
  • Russell 2000+33.11 points or 1.51% at 2224.94
Qualcomm earnings have come in after the close and are seeing a beat on the top and bottom lines.
  • EPS $1.92 versus $1.68 estimate
  • Rev $8.0 billion versus $7.58 billion estimate
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